Mr EH visits an age friendly company - Hustler Daily Thumbs Up - November 14

Hello fellow Encore Hustlers

Mr EH apologies for not posting for the last couple of weeks but he has been traveling on a back-to- back week of holiday in Washington DC and New York City and then a week of visiting a suppliers shop in Alabama.

There will be a couple of posts upcoming relating to some observations during the DC/NYC visit but this post is about Mr EH finding a workplace in Alabama that not only values older workers but actively encourages them to stay working.

The shop is located in a small town in rural Alabama, midway between Birmingham and Atlanta.  Surprisingly enough this company, nestled in the hills near the end of the Appalachian Trail, is fabricator that manufacturers equipment for the military, aerospace, oil & gas, and medical devices.

While having an opening meeting with the company president, the topic of retaining and hiring workers in the current tight labor market came up.  According to the president, when a long term employee retires decades of hard to replace experience also walks out the door.  Rather than trying to recruit and train a new employee the company has taken the tact of offering retention bonuses.  For example if a senior worker agrees to stay another year the reward will be a $10K bonus.

What a switch from the attitude of many companies that are clamoring to find ways to push aging workers out the door.  Of course it helps that company is privately owned, with the president also being the founder.  An aerospace engineer and veteran fighter pilot, he has, at age 75, no plans to retire since he still having too much fun running his company.

Hopefully this attitude of appreciating and rewarding older workers will become a model to other companies.

Cheers,
Mr. EH

Retirement is a slope, not a cliff - Hustler Daily Thumbs Up - October 23

Hello fellow Encore Hustlers

Minnesota is recognizing that retaining senior workers is a key factor maintaining the state's economic vitality.  Minnesota’s population is aging. People 65 and over made up about 15 percent of Minnesota’s total population in 2015. That’s expected to rise to 21% by 2030.  If these workers retire and leave the workforce that gap cannot be made up with younger workers or immigrants.

Read this story about the Courageous Conversations project, led by the University of Minnesota's Humphrey School of Public Affairs, that spent two years traveling around the state meeting with employers, civic leaders and job-seekers to explore how Minnesota’s aging workforce is affecting their local economies. 

Minnesota’s population is aging. People 65 and over made
up about 15 percent of Minnesota’s total population in
2015. That’s expected to rise to 21% by 2030.2

After reading the story you can link to the full report of the commission, that has may recommendations on how to keep senior workers:

• Consider retirement not as a cliff, but as a time of transition. 
• Offer flexible work options such as part time or job sharing. 
• Offer leadership development and skills training to older adults. 
• Revise and update HR practices .
• Starting conversations with older workers who may want to stay on the job, even in a different capacity.

Hopefully other state's will also read this report and take its recommendations under advisement.

Cheers,

Mr. EH